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Castillian Completes Acquisition of Hope Brook Gold Project, Closes $ 2 M Option Agreement With Ryan Gold; Shares Down 12.5%

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Castillian Resources Corp. (CT.V) has exercised its option and acquired a 100% interest in the Hope Brook Gold property by paying $160,000 in cash and issuing 200,000 common shares of Castillian to the vendors of the Property.

Castillian has amended and closed the Option Agreement with Ryan Gold Corp. whereby Castillian granted Ryan Gold the option to acquire a 10% interest in the Property. Under the amended Option Agreement, Ryan Gold will acquire the 10% interest after incurring aggregate exploration expenditures on the Property in the amount of $2,000,000 by December 31, 2012. Upon Ryan Gold acquiring this interest, Castillian and Ryan Gold will form a joint venture under which Ryan Gold will have a carried 10% interest until December 31, 2013, following which each company will contribute to further expenditures on the Property in proportion to their respective joint venture interests.

CT is trading near yr lows of 2.5 cents. More than 1.5 million shares have been traded so far.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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